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From this morning’s Cashin’s Comments: Déjà Vu, All Over Again – As media pundits trip over each other talking about the “longest equity bull run since….”, we may all be losing perspective amidst the happy hype. In his wonderful evening wrap-you for clients, the ever-alert, Dan Greenhaus, restored a little perspective to where we are. There has been endless chatter about the terrific start to the year, about the great rotation and about growing [...] by WashingtonsBlog The Government’s Entire Strategy Was to Cover Up the Truth We noted in 2011 that the Geithner, Bernanke and Paulson lied about the health of the big banks in pitching bailouts to Congress and the American people: The big banks were all insolvent during the 1980s. And they all became insolvent again in 2008. See this and this. The bailouts were certainly rammed down our throats under false pretenses. But here’s the more important point. Paulson and Bernanke falsely stated that the [...] When will the euro collapse? It’s already dead By Matthew Lynn LONDON (MarketWatch) — Anyone who spends their time analyzing the euro debt crisis will know that there is one question you get asked again and again. When will the single currency finally collapse? You can have fun giving a spuriously precise answer — July 28th, 2014, is my favorite (look it up on Wikipedia if you are wondering why).
The Obama presidency is fond of issuing apologies for America on the world stage, but very rarely makes them at home to Americans. White House Communications Director Dan Pfeiffer has just issued one toWashington Post columnist and Fox News contributor Charles Krauthammer, who last week wrote an op-ed berating the Obama administration for removing a bust of Sir Winston Churchill from the Oval Office when it came to power. Pfeiffer had issued a stinging attack on Krauthammer, alleging that his Churchill [...] Clive Maund | Monday, July 23rd Silver investors and speculators are amongst the manic-depressive you can possibly find in the investment world. When they are playing maximum credits on the slots and passing round boxes of cuban cigars and taking out massive loans to buy Ferraris and Lambos you know it’s time to watch out. When they retreat into the shadows, only coming out to hurl themselves off bridges and [...] by Lance Robert of Streettalk Advisors Consumers Flash Warning Signal At the end of last year we began discussing the issues of the excessively optimistic analysis of the mainstream media and analysts which were confusing a skew in the seasonal data caused by an unseasonably warm winter and global Central Bank interventions with an organic economic recovery.(See the report “Pollyana Meets The Economy” for a primer - free membership required) The problem with maintaining an “optimistic bias”, which [...] presstv.ir A senior commander of the Islamic Revolution Guards Corps (IRGC) says Iran has gained enough information from the US drone it captured last year to duplicate the aircraft. “The American RQ-170 drone will be undoubtedly duplicated,” Commander of the IRGC’s Aerospace Division Brigadier General Amir-Ali Hajizadeh noted on Tuesday. Rejecting foreign media reports about Iran’s inability to decode drone’s information, the IRGC commander said the Islamic Republic has already proven [...] by business insider No one likes to receive a tax bill from the IRS, especially one of those late-payment bills where they add penalties and interest if you missed the April deadline for the previous tax year. So I was irked when the IRS sent me a demand for filing my taxes a day late, seeking penalties and interest of $15.22. I was sure I’d filed on time, so I decided to contest [...] From LewRockwell.com: Lots of questions come up when the subject turns to cars. Here are a few that come up often – along with some answers that may help: Is it a good idea or a bad idea to buy a former rental (or cop) car? Mixed bag! Most people would probably be fearful of acquiring a former rental/fleet car, thinking it was probably abused by not just one driver but many drivers. [...] Breaking News: Feds Falsely Censor Popular Blog For Over A Year, Deny All Due Process, Hide All Details… by Mike Masnick Imagine if the US government, with no notice or warning, raided a small but popular magazine’s offices over a Thanksgiving weekend, seized the company’s printing presses, and told the world that the magazine was a criminal enterprise with a giant banner on their building. Then imagine that it never arrested anyone, [...] GMO’s Jeremy Grantham is out with his latest quarterly letter, which he cleverly titles The Shortest Quarterly Letter Ever. His thoughts are pithy and, as always, interesting. Of particularly interest is his take on what the US market could look like based on past bubbles: “No Market for Young Men.” Historians would notice that all major equity bubbles (like those in the U.S. in 1929 and 1965 and in Japan in 1989) broke way below trend line values [...] kingworldnews.com After the explosive upside activity in the gold and silver markets last week, today King World News interviewed James Turk out of Spain to get his take on where the metals are headed from here. When asked about the action in gold and silver, Turk responded, “I like today’s action very much, Eric. Given that gold rose over $100 last week, some correction was [...] Eurozone leaders have delivered more than investors feared they would only last night, and less than they would ideally like to see. An agreement in principle with banks and private-sector creditors that the Greek government will pay them back only half what they are owed came right at the last moment. It will also be seen as progress that the 250bn euros left in the kitty of the bailout fund, the European Financial [...] This piece was written by Robin Koerner and originally appeared on HuffPo. Robin also writes for the Daily Capitalist and it was published there as well. It’s hard to tell if the idea that Ron Paul cannot win in 2012 is more ignorant, in its complete lack of historical sophistication, or more arrogant, in its claim to certainty amid all the complexity of 300 million lives and the [...] Louise Gray In his first speech as the new President of the Worldwide Wildlife Fund (WWF) UK, Prince Charles suggested ‘surviving ourselves’ should be a priority. Referring to himself as “an endangered species”, he warned that the world is already in the “sixth extinction event”, with species dying out at a much faster rate than at any time since the death of most of the dinosaurs [...] Telegraph.co.uk The Prince said if the world carries on ‘business as usual’ then the human race itself could be wiped out Photo: REUTERS (WWF) UK, Prince Charles suggested ‘surviving ourselves’ should be a priority. Referring to himself as “an endangered species”, he warned that the world is already in the “sixth extinction event”, with species dying out at a much faster rate than at any [...] by ZH Forgive us while we take another quick and gratuitous look at today’s disastrous Empire Index, but we wanted to bring a very important point highlighted by Stone McCarthy: “You usually don’t get three straight months of negative results unless you are in a recession (Note: NY Fed historical data only started in July 2001).” SMRA continues: “If that’s not bad enough for you, the forward-looking [...] Their wages are stagnating because corporations don’t want to pay a fair wage and because they are shipping jobs over seas at an ever faster rate. For example: Average Hourly Earnings in 2008 Dollars: 1972 = $20.06 A 7.6% decrease. http://www.businessinsider.com/15-charts-about-wealth-and-inequality-in-america-2010-4?slop=1#slideshow-start That means that Americans can’t afford to pay a decent price for food, goods and services. So we buy from Walmart and other discount store that are major culprits in shipping jobs overseas and [...] Niall Ferguson has a series on Channel4 (UK television) “Civilisation: Is the West History“. I thought it rather strange that 21m50 into episode 4, about medicine, that he would take (in my view) potshots at the theory of man-made climate change. The important point to note is that 100 years ago work like Galton’s was at the cutting edge of scientific research. Racism wasn’t some backward looking reactionary ideology, [...] Since the Masters of the System have decided to arbitrarily “move the goalposts” to suit themselves by printing money in unlimited quantities, fixing interest rates at artificially low levels, and backstopping the bond market etc, it is incumbent on us as investors to find a fixed point of reference and safe anchorage, the better to weather the financial storms that their crassly irresponsible policies are [...] by Lance Roberts of Streettalk Advisors The Decline Of The American Saver And The Economy In the most recent release of the Personal Income and Disposition report by the Bureau of Economic Analysis the headline numbers were seemingly very good with personal consumption expenditures up 0.7% and personal incomes rising 0.3%. Unfortunately, that is about where all the good news ended. We have been discussing as of late [...] For over a year I have been hearing from people who claim to be “invested” in Secret Investment Pools, CMKX Settlements, World Global Settlements and the like. Apparently, years ago these investors gave money to some well connected insiders with the assurance that their small investments would pay off in handsome riches when the Banksters were taken down and we returned to the Gold Standard. Discounting [...] |
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